What Does It Cost to Retire in These US States?
11. Iowa
Iowa is one of the least tax-friendly places to retire thanks to expensive property taxes, high taxes on incomes over $74,970, and even an inheritance tax in some cases. While the state doesn't touch Social Security benefits, additional sources of retirement income over $6,000 — or $12,000 for joint filers — are up for grabs. Property tax breaks for homeowners over 65 are minimal, considering some areas charge additional income taxes.
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